India’s IPO boom: $14 billion raised, more money to come with Tata Capital and LG Electronics

India’s IPO market is booming in 2025. So far, 78 mainboard IPOs have raised more than $14 billion with three months still to go.

October is expected to be another strong month, with big launches Tata Capital And LG Electronics India The total is expected to add more than $5 billion.

The Bernstein report shows that India now ranks fourth globally in IPO fund raising this year. The US leads with $53 billion, followed by Hong Kong with $23 billion and China with $16 billion. India’s $14 billion puts it just behind these major markets.

Momentum has been strong in recent months, with a record 33 listings in the past two months and another 13 already on track for October. If this momentum continues, India could match the total of more than $20 billion raised through IPOs last year.

While many believe that new-age tech companies are leading this wave, Bernstein’s report highlights that IPO Coming from traditional sectors like industrials and discretionary businesses, including jewelery and digital consumer firms swiggy,

Only 16% of IPOs so far in 2025 are related to new sectors like consumer tech, green energy or digital.

However, not all listings have delivered strong returns. Since January 2024, nearly a quarter of IPOs have delivered zero or negative listing gains.

Only 18% companies saw gains of more than 40%, while 12% saw distribution between 25% and 40%.

Despite the mixed performance, India’s IPO pipeline remains strong, reflecting growing investor interest and a mature market that is attracting both domestic and global attention.